Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

Borrowing Availability means, at any time, the lesser of (i) the Maximum Amount or (ii) the Borrowing Base, in each case less reserves established by Lender from time to time.

Borrowing Availability shall have the meaning assigned to it in Section 1.1(a)(i).

Examples of Borrowing Availability in a sentence

For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received by Lender prior to noon Pacific Standard Time.

More Definitions of Borrowing Availability

Borrowing Availability means as of any time of determination the lesser of (i) the Total Revolving Credit Commitment at such time and (ii) the Borrowing Base at such time, in each case, less the sum of (a) the Loans then outstanding (including, without duplication, the outstanding balance of the Swingline Loan then outstanding), (b) aggregate L/C Exposure at such time and (c) Reserves established by the Administrative Agent in its reasonable credit judgment.

Borrowing Availability means, as of any date of determination, an amount equal to the lesser of (a) the Aggregate Revolving Commitments as of such date and (b) the result of (i) Combined Eligible Availability as of such date minus (ii) Consolidated Net Indebtedness as of such date (excluding the Outstanding Amount of Loans and L/C Obligations).

Borrowing Availability means:

Borrowing Availability means as of any date of determination (a) as to all Borrowers, the lesser of (i) the Maximum Amount and (ii) the Aggregate Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding, or (b) as to an individual Borrower, the lesser of (i) the Maximum Amount less the sum of the Revolving Loan and Swing Line Loan outstanding to all other Borrowers and (ii) that Borrower's separate Borrowing Base, less the sum of the Revolving Loan and Swing Line Loan outstanding to that Borrower; provided that an Overadvance in accordance with Section 1.1(a)(iii) may cause the Revolving Loan and the Swing Line Loan to exceed the Aggregate Borrowing Base or a Borrower's separate Borrowing Base by the amount of such permitted Overadvance.

Borrowing Availability means, as of any date of determination, (i) the lesser of (x) the Total Commitment and (y) the Borrowing Base minus (ii) the Aggregate Exposure.

Borrowing Availability shall have the meaning assigned to it in SECTION 1.1(a)(i).